Ex-JPMorgan Employees Indicted Over $6.2 Billion Loss
This article is for subscribers only.
Two former JPMorgan Chase & Co. traders were indicted for engaging in a securities fraud to hide trading losses that eventually surpassed $6.2 billion on wrong-way derivatives bets last year.
Javier Martin-Artajo, who oversaw trading strategy for the synthetic portfolio at the bank’s chief investment office in London, and Julien Grout, a trader who worked for him, were named in the indictment, unsealed yesterday in federal court in Manhattan. The U.S. announced preliminary charges against the men in August.